Topaz Energy Corp. (TSE:TPZ) Given Average Rating of “Buy” by Brokerages

Topaz Energy Corp. (TSE:TPZGet Rating) has been assigned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$30.39.

A number of analysts have recently issued reports on TPZ shares. Canaccord Genuity Group set a C$30.75 price target on shares of Topaz Energy and gave the company a “buy” rating in a report on Thursday, August 25th. BMO Capital Markets increased their price objective on shares of Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 2nd. Scotiabank raised their target price on shares of Topaz Energy from C$32.00 to C$33.00 in a research note on Monday, September 19th. Raymond James raised their target price on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd.

Topaz Energy Stock Performance

Shares of TSE TPZ opened at C$23.65 on Friday. The firm’s 50-day moving average price is C$21.77 and its 200-day moving average price is C$21.66. The company has a quick ratio of 7.17, a current ratio of 8.06 and a debt-to-equity ratio of 34.84. The company has a market cap of C$3.41 billion and a PE ratio of 34.28. Topaz Energy has a 52-week low of C$16.31 and a 52-week high of C$24.80.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.74%. Topaz Energy’s dividend payout ratio (DPR) is 173.91%.

Insider Activity at Topaz Energy

In related news, Senior Officer Cheree Stephenson sold 2,000 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of C$23.81, for a total value of C$47,620.00. Following the completion of the transaction, the insider now directly owns 25,000 shares of the company’s stock, valued at C$595,250.

Topaz Energy Company Profile

(Get Rating)

Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.

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Analyst Recommendations for Topaz Energy (TSE:TPZ)

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